By Tom Arnold DUBAI (Reuters) – A Saudi Arabian businessman whose family’s commercial empire is involved in a multi-billion dollar debt dispute has been released from detention in the kingdom’s Eastern Province, according to sources familiar with the matter.Abdulaziz al-Sanea’s release comes as the government steps up efforts to find a company to run a…
AdvertisementBankruptcyDatas detailed analysis and summary of Performance Sports Groups First Amended Joint Chapter 11 Plan of Liquidation, dated November 2, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on December 20, 2017; and the Plan became effective on December 21, 2017. Advertisement BankruptcyData notes, The Plan is… Read…
As Eddie Obeid languishes behind bars for a second Christmas and New Year, the family of the corrupt former Labor MP is being pursued in court for hundreds of thousands of dollars in cash they received from the Circular Quay cafes at the centre of his trial. Fairfax Media can reveal the liquidator appointed to Circular Quay Restaurants, the…
Goldman Sachs-backed ReNew Power Ventures Pvt. Ltd is looking to acquire the solar power assets of Mumbai-based Waaree Energies Ltd, Mint reported, citing people aware of the matter. Waaree Energies has about 100 megawatt of solar power assets across Andhra Pradesh and Madhya Pradesh. Last week, Waaree Energies had raised Rs 100 crore ($15.6 million)…
IT seemed luxury Aussie handbag retailer Oroton was doomed last month after it went into voluntary administration. Today, it has risen from the ashes following a takeover bid from a major shareholder. Caledonia Funds Management chief investment officer Will Vicars, who owns 18 per cent of the 79-year-old companys ASX-listed shares, will buy the brand…
The Australian art auction house and gallery Mossgreen has gone into voluntary administration. Its chief executive officer, Paul Sumner, said no vendors, staff or buyers would be out-of-pocket. Mossgreen has chosen to take a path of voluntary administration during the month of January at a time that will least impact our clients and which will…
Wed, Dec 27, 2017 – 8:11 AM INVESTMENT holding company k1 Ventures on Wednesday said that its wholly owned subsidiary, FSHCO Holdings Pte Ltd, will be placed under members’ voluntary liquidation. It added that filings will be made in Singapore for the liquidation, and that this liquidation is not expected to have any material impact…
Nandini Sen Gupta | TNN | Dec 27, 2017, 04:00 IST Chennai: Former Maruti Suzuki MD Jagdish Khattar-promoted multi-brand car service company Carnation Auto is facing bankruptcy. A corporate insolvency resolution process has been initiated against the company by its creditor Punjab National Bank (PNB), which has asked for expression of interest for a resolution…
The National Company Law Tribunal has admitted an application by State Bank of India to initiate the corporate insolvency resolution process against iron-cast auto parts maker Castex Technologies Ltd. The Mumbai bench of the NCLT appointed Dinkar Tiruvannadpuram Venkatsubramanian as an interim resolution professional for the debt resolution process, according to a stock exchange filing.…
December 26, 2017: This is to inform you that the application filed by State Bank of India under section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC 2016) read with Rule 4 of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 before National Company Law Tribunal, Mumbai has been admitted by the Honble…